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US seeks more FDI from India, China

, October 8, 2011, 0 Comments

In order to create more jobs in America, top business and political leadership has sought more investments/ FDI into the country from India, China. Top business leader on Friday’s discussion at President’s Jobs and Competitiveness Council by the Secretary of State Hillary Clinton expressed their views.

Jeffrey Immelt, Chairman and CEO of the General Electric Company said “Our direct investment from places like China, India, Brazil, the people that really have a hot hand today, are minuscule, almost non-existent, and there’s no reason why those countries shouldn’t be investing more broadly in the US than they are today”, he totally believes that if more foreign direct investment from India and China and those places in the United States, US wouldn’t have as many issues as we have.

Acting Secretary of Commerce Rebecca Blank said “In 2009, the US attracted 12 percent of total global investment, down from 25 percent over a decade ago. And that’s despite having the world’s largest consumer market, a highly educated workforce, strong intellectual property protection and fluid capital markets”.  She further added “We have put a lot of time and attention into the emerging markets because, in Brazil and China, for example, there’s an enormous demand, appetite for visas”.

Participants at the discussion sought visa reform from the State Department. Responding to the visa concerns, Clinton said the US is now putting a lot of emphasis in addressing this issue.

(Source : Press Trust of India)